The ratings on Corus Entertainment Inc. reflect its well-diversified business mix, as indicated by its number-one Canadian radio market position; the strength of its broadcast assets, particularly children's specialty television; and the company's production and content strengths in animated children's programming. The ratings also reflect a favorable regulatory regime, particularly in the Canadian specialty television industry. These factors are offset by an acquisition-driven growth strategy and a relatively aggressive financial profile. Corus is a leading Canadian media and entertainment company operating in three business segments: radio (33.8% of revenues and 33.1% of EBITDA for the 12 months ended Nov. 30, 2002); television (45.9% of revenues and 59.3% of EBITDA); and content (20.9% of revenues and 7.3% of EBITDA). The company
